May 14, 2020 – As the Philippines begins a new stage of enhanced community quarantine (ECQ) and general community quarantine (GCQ) measures, firms in the payments services like Paymaya have seen transactions and user registrations increasing.
During GCQ and ECQ, the movement of people is restricted. This means people could not go out to buy anything that is not “essential”. The limited hours in banks means not everyone can be served by its branches.
With that, the Bangko Sentral ng Pilipinas (BSP) has doubled in its campaign to encourage Filipinos to use e-payments to pay bills and buy products.
One e-payment service is Paymaya. In a virtual briefing, Paymaya said it is hoping that the momentum driving cashless payments during the pandemic will ultimately translate to profitability, the BusinessWorld reports.
It also confirmed that their user registrations have doubled during the lockdown period.
PayMaya can be used to send and receive money among Paymaya users and even from other banks and non-bank financial institutions, made possible via its participation to InstaPay and PESONet. It can also be used to pay for bills.
In the briefing PayMaya CEO Orlando Vea said it is focused on”helping the government and society to take advantage of the digital leapfrog.”
He also said they are looking at opportunities in health and education and noted that teleconsultation has been on the rise and doctors can receive payments through Paymaya.
Source: Business World
This article is published on BitPinas: Paymaya User Registrations Doubled During Pandemic